Saudi Aramco has seen progress slow for the planned initial public offering of its energy trading unit, two sources with knowledge of the matter said on Thursday.
Saudi Aramco has reportedly delayed the initial public offering (IPO) of its energy-trading unit, Aramco Trading Company (ATC), due to challenging market conditions. ATC, which serves as the trading arm of Saudi Aramco, was expected to be listed on the Riyadh stock exchange with a valuation exceeding $30bn in late 2022 or early 2023. Reports indicate the company has not yet set a new timeline for the IPO, indicating a possible delay until 2024 if market conditions do not improve. Aramco Trading offers energy solutions globally and integrates downstream assets, expanding its operations over time, including the trading of crude oil and LNG., Companies News, Times Now
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